Euro to remain as it is – VTB Group CEO

September 07, 2012, 5:19 UTC+3However, he expressed confidence that further efforts would be taken in this direction

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VLADIVOSTOK, September 7 (Itar-Tass) — Andrei Kostin, chief executive officer of Russia’s VTB Group, believes that the European currency will remain as it is.

“I think that the European Union and its currency will stay in the future as they are,” he told the APEC business summit on Friday adding that it was very difficult for the German government and Chancellor Angela Merkel to pursue the policy on keeping the eurozone intact.

However, he expressed confidence that further efforts would be taken in this direction.

“They will support further measures for enlarging debt obligations of all member-states,” Kostin said. “Stability and trust in the euro are at a very weak platform. But there are resources to prevent the withdrawal from the common European currency.”